Euro Still in Low range in a Month, Due to Increase Yield Bonds Italy
fxbom.com
01:29 PM
In today’s trading the euro exchange rate movements appear to have still in the range of the lowest in a month later against the U.S. dollar (10/11). Last night the euro fell sharply against its main rivals after the Italian bond yields soared to the top level of 7% which is a record high level.
Italian bond yields rise is the impact of Italian PM Silvio Berlusconi’s statement that he wanted a general election when he resigned, and did not accept the existence of the interim government. The statement sparked chaotic Berlusconi is back among the politicians in the country which is currently being rocked by the threat of bankruptcy. Impact of Italian bankruptcy will be much larger than Greece since the bankruptcy of this country’s debt tenfold Greek debt.
On this day the euro was observed in the position of 1.3539 dollars. The position of the euro is increased slightly from the close of trading the euro early this morning that exist at the level of 1.3521 dollars. Today the euro had weakened to 1.3511 dollars to the position which is the lowest position since the 10th of October.
Fxbom.com Analysts estimate that the euro exchange rate movements on trade today will likely decline further. Trend of the euro has led to a solid decline making it difficult to move against the direction. It is estimated that the euro would have weakened the movement to test support level at 1.3470 dollar positions.
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